- Emirates NBD, a Dubai-based banking group, has entered a partnership with Silent Eight, a Singapore-based anti-financial crime platform.
- Silent Eight provides an AI and machine-learning platform for automating financial transaction screening investigations.
- The partnership aims to enhance Emirates NBD’s financial crime prevention measures by automating the alert screening investigation process.
- The collaboration is expected to improve the efficiency, accuracy, and auditability of the bank’s compliance operations.
- Successful deployment of Silent Eight’s solution is anticipated to reduce operational expenses, decrease reliance on human investigators, and enhance customer satisfaction by addressing false positive alerts.
- The agreement follows a successful proof of value, involving testing Silent Eight’s solution on alerts generated by the bank’s screening system.
- Victor Matafonov, group chief compliance officer at Emirates NBD, expresses confidence that Silent Eight’s IRIS module will bring significant value, enabling faster and better service to customers.
- The partnership aligns with Emirates NBD’s vision of becoming a digital leader in the region and adopting world-class technologies to enhance risk management and operational efficiency.
